China lowers RRR, interest rates after market slump

China’s central bank announced on Tuesday to cut the reserve requirement ratio (RRR) and lower key interest rates.

From Sept. 6, it will cut the RRR for financial institutions by 50 basis points.

From Wednesday, interest rates for one-year lending and deposits will be cut by 25 basis points to 4.6 percent and 1.75 percent respectively.

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